In 2013, the NFC Ring smashed its crowdfunding goal on Kickstarter and, two years later, the company was back with a new design, better range, and more storage.

Those designs focused on smartphone security and contact sharing - this is the first time the company has jumped into the contactless payment space. It's claiming the new ring is the world's first EMVCo compliant payment ring, although we have seen the likes of Kerv arrive with smart payment skills on board.

Like the Apple Watch, or the bPay Loop, you don't have to be tethered to your phone to make payments with the NFC Ring - it uses an Infineon security chip to create anonymising tokens.

Like its predecessors, the built in NFC means it will also be able to do things like unlocking your smartphone and transfer information to other mobile devices.